WELLINGTON - MEMBER CONSULTATION FORUM 26 March 2018 Summary

James Cook Hotel Grand Chancellor, 147 The Terrace, Wellington Overview of Session James Cook Hotel Grand Chancellor, 147 The Terrace, Wellington 5.30pm Board member: Ric De Santi Registered: 19 Attended: 13 Divisional Council: Opened by: Mat Croad Topics Discussed Process to appoint the Board The size and role of the Board, appointment of the President, and duration of director terms Role of CPA Australia in advocacy Development of CPA Australia strategy Media coverage of the events of 2017 Tailored delivery of member services CPA Australia Advice – financial losses and the impact on professional standards scheme Role of the Divisional Council Actions of the previous Board and CEO and the case for the current reforms Internal culture of innovation CPA Australia’s support for public practitioners in New Zealand Engagement of members in regional areas Potential merger between CPA Australia and CAANZ

Summary of discussion CPA members asked over 40 questions of the Board member in attendance, Ric De Santi. Members also addressed each others’ concerns and questions. The main topics discussed at the session were: The past and proposed future processes for Board appointments. The discussion covered: Ensuring there is diversity of experience, skills, gender and ethnicity among Board members The proposed Nominations Committee, and how non-members will be jointly appointed by the Board and Appointments Council The number of Divisional Council representatives on the Appointments Council The importance of including members in the selection process for Board members, even though approach this differs from other organisations New Zealand will have equal representation on the Appointments Council with other Divisions The process for encouraging individuals to nominate for the Board, if Board members cannot directly urge individuals to nominate The process for selecting the President of the Board The composition of the Board. The discussion covered the optimal number of directors on the Board, with a member commenting on the decision making speed of smaller boards, and the workload distribution within a large board. The dual role of directors in terms of representation and governance was also discussed, and the duration of terms for directors and President. The pros and cons of a longer term for the President was discussed. Development of the CPA Australia corporate strategy, with members indicating that governance arrangements and strategy must be defined in parallel. The strategy must also include a clear approach to engage with members in New Zealand, and with regional members The different needs to members, and how services and resources can be tailored to meet the needs of members on different career paths, and in different locations. Technology should be used to support the personalisation of member services. The service offering, including CPD, should be tailored to the location of members. The advocacy work completed by CPA Australia should be increased, in order to grow the public profile. The Divisional Council should be used by members to raise issues that should be considered for advocacy work Transparency and accountability is valuable to members, and it is important members have visibility of the activities of the Board The discussion also covered: The financial losses of CPA Australia Advice, the impact on the professional standards scheme, and how this has been resolved Role of the Divisional Council, and how Divisions and Branches differ Actions of the previous Board and CEO, subsequent media coverage, and the case for the current reforms Encouraging an internal culture of innovation CPA Australia’s current support for public practitioners in New Zealand, and how this should be maintained despite low member numbers Engagement of members in regional areas Potential merger between CPA Australia and CAANZ, to align with unified professional accounting organisations around the globe